Bill was part of the 'A Line' (named after the NYC subway line) with his brother Bun Cook and Frank Boucher. The line was also called the Bread Line, with references to Bill's brother, even though the 'bun' was short for 'bunny' (as in 'quick as a bunny'). The line scored every Ranger goal in the Stanley Cup finals in 1928, leading the team to its first Cup.

He was inducted into the Hockey Hall of Fame in 1952. In 1998, he was ranked number 44 on The Hockey News' list of the 100 Greatest Hockey Players, making him the highest-ranked player to have played a majority of his career with the Rangers. Bill, along with his brother, is also enshrined in the International Hockey Hall of fame, located in his adopted home town of Kingston, Ontario.